Gold Technical Analysis Aug 30, 2019
Gold Technical Analysis: The Gold declined 0.79% against the USD on Thursday and closed at 1526.80. Today in the European session while Gold technical Analysis Aug 30, 2019 is preparing at 7:45 GMT, the XAU/USD trading at 1525.00, which is 0.12% lower from Yesterday’s close.
The Gold is expected to find support at 1514.00, and a fall through could take it to the next support level of 1501.00. The pair is expected to find its first resistance at 1545.00, and a rise through could take it to the next resistance level of 1563.00. For today the expected trading range is betwee 1501.00, Support and 1545.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1514.00, Support 2: 1501:00, Support 3: 1483:00
Resistance Levels: Resistance 1: 1545.00, Resistance 2: 1563.00, Resistance 3: 1576.00
Gold Buying Opportunity for Intraday Trading Aug 16, 2019
Buy near the support area 1514.00 and 1501.00 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
Gold Selling Opportunity for Intraday Trading Aug 16, 2019
Sell near the resistance area 1545.00 and 1563.00 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.